Financing Low Income CommunitiesJulia Sass Rubin Russell Sage Foundation, 15/11/2007 - 344 páginas Access to capital and financial services is crucial for healthy communities. However, many impoverished individuals and neighborhoods are routinely ignored by mainstream financial institutions. This neglect led to the creation of community development financial institutions (CDFIs), which provide low-income communities with financial services and act as a conduit to conventional financial organizations and capital markets. Edited by Julia Sass Rubin, Financing Low-Income Communities brings together leading experts in the field to assess what we know about the challenges of bringing financial services and capital to poor communities, map out future lines of research, and propose policy reforms to make these efforts more effective. The contributors to Financing Low-Income Communities distill research on key topics related to community development finance. Daniel Schneider and Peter Tufano examine the obstacles that make saving and asset accumulation difficult for low-income households—such as the fact that tens of millions of low-income and minority adults don't have a bank account—and consider solutions, like making it easier for low-wage workers to enroll in 401(K) plans. Jeanne Hogarth, Jane Kolodinksy, and Marianne Hilgert review evidence showing that community-based financial education programs can be effective in changing families' saving and budgeting patterns. Lisa Servon proposes strategies for addressing the challenges facing the microenterprise field in the United States. Julia Sass Rubin discusses ways community loan and venture capital funds have adapted in response to the decreased availability of funding, and considers potential sources of new capital, such as state governments and public pension funds. Marva Williams explores the evolution and recent performance of community development banks and credit unions. Kathleen Engel and Patricia McCoy document the proliferation of predatory lenders, who market loans at onerous interest rates to financially vulnerable families and the devastating effects of such lending on communities—from increased crime to falling home values and lower tax revenues. Rachel Bratt reviews the policies and programs used to make rental and owned housing financially accessible. Rob Hollister proposes a framework for evaluating the contributions of community development financial institutions. Despite the many accomplishments of CDFIs over the last four decades, changing political and economic conditions make it imperative that they adapt in order to survive. Financing Low-Income Communities charts out new directions for public and private organizations which aim to end the financial exclusion of marginalized neighborhoods. |
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... save for retirement, or buy a house. Developers need capital to build and rehabilitatehousing, commercial properties ... savings and lending accounts, and financial education. The specialized financial organizations that serve low-income ...
... save for retirement, or buy a house. Developers need capital to build and rehabilitatehousing, commercial properties ... savings and lending accounts, and financial education. The specialized financial organizations that serve low-income ...
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... time. The impediments to savings include a combination of factors that influence behavior by households and financial service firms. For example, most Americans take access to saving and bill 4 Financing Low-Income Communities.
... time. The impediments to savings include a combination of factors that influence behavior by households and financial service firms. For example, most Americans take access to saving and bill 4 Financing Low-Income Communities.
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Julia Sass Rubin. For example, most Americans take access to saving and bill paying accounts for granted. This is not ... save and build assets. The chapter discusses a number of innovations that might increase savings, largely adapted ...
Julia Sass Rubin. For example, most Americans take access to saving and bill paying accounts for granted. This is not ... save and build assets. The chapter discusses a number of innovations that might increase savings, largely adapted ...
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... saving.” —Financial services executive, private discussion with author, 2004 ALTHOUGH the rich and poor both have ... saving and long-horizon goals investing? Trying to differentiate saving and investment based on institutional features ...
... saving.” —Financial services executive, private discussion with author, 2004 ALTHOUGH the rich and poor both have ... saving and long-horizon goals investing? Trying to differentiate saving and investment based on institutional features ...
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... saving or investing, she engages in risk management to protect herself from various risks (such as unemployment or poor health) or to diversify her investments. Along these dimensions, saving by the poor and investing by the rich are ...
... saving or investing, she engages in risk management to protect herself from various risks (such as unemployment or poor health) or to diversify her investments. Along these dimensions, saving by the poor and investing by the rich are ...
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Accessed accounts activities affluent affordable housing Aspen Institute assets benefits borrowers Caskey and Hollister CDCUs CDFI CDLFs CDVCs community development banks community development credit community development finance Community Reinvestment Act consumers costs counseling created development credit unions Development Financial Institutions economic development employment equity estimates evaluation example Fannie Mae Federal Reserve Federal Reserve System financial education Financial Literacy financial services firms Foundation Freddie Mac homeowners homeownership impact incentives income increased individuals industry initiatives investments investors KHIC lenders levels low-income families low-income households lower-income MDOs Michael Sherraden microenterprise million moderate-income mortgage multifamily National needs neighborhoods networth nonprofit Okagaki organizations outcomes participants payments percent Policy predatory lending regulations Research retirement saving securitization Sherraden ShoreBank small business social subprime Subprime Lending subsidies Survey target tax credit technical assistance U.S. Department Urban venture capital Washington wealth